Calabasas, CA – March 5, 2008 - BlackLine Systems, a leading provider of software applications that automate the entire financial close process for accounting departments, today announced record sales and new customers in 2007.
Sales grew more than 350 percent on a year-over-year basis for the fourth quarter of 2007, with many more large multi-national organizations now using BlackLine’s enterprise-level software to optimize their financial close activities and many small to medium-sized companies subscribing to the company’s OnDemand solution. BlackLine’s suite of financial close optimization solutions are reducing the time it takes to close the books and report, as well as ensuring management’s capability to better control these key activities.
Customers include AT&T, Cox Communications, Northrop Grumman and Pepsi Bottling Group.
“Word is spreading and our user base is really taking off. Several thousand people in accounting departments around the world now use BlackLine’s Account Reconciliation module each month to ensure and control the integrity of the information presented in the financial statements reported to stakeholders,” said Therese Tucker, Chief Executive Officer, BlackLine. “BlackLine software is providing more and more CFOs with the capability to exert a tighter ‘band of control and communication’ over the tools, applications and processes used to perform the financial close process.”
BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralising and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize enterprises. Designed to complement ERP and other financial systems, BlackLine’s cloud platform increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation.
BlackLine’s mission is to continuously improve the quality, accuracy and efficiency of Finance and Accounting by centralising key functions within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities. BlackLine helps companies modernise accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close. To date more than 2,800 companies with users in over 130 countries around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements.
BlackLine is recognized by Gartner as a Leader in its 2019 Magic Quadrant for Cloud Financial Close Solutions.
Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney servicing its 14 global locations.For more information, please visit https://www.blackline.com/.